In November 2016, the businesses in Sidcup voted in favour of creating a Business Improvement District (BID) and paying an annual contribution to help fund additional projects, services and events that would improve the local environment for the benefit of businesses, employees and visitors alike.
The BID is funded by a small ‘levy’ on businesses within the area, based on the rateable value of their property. This raises in the region of £167,000 each year during the five-year term, so approximately £835,000 in total. This money will be used to promote Sidcup, to enhance the experience for visitors, to enable businesses to work together and to provide services to reduce business overheads. BID services are additional to those provided by the Council, Police and other providers.
The Sidcup BID includes approximately 400 levy payers including well-known brands and organisations in the retail, leisure, hospitality and public sectors. We are an independent, non-profit company limited by guarantee. All the projects and services we deliver are additional to – not in place of – those already provided by the London Borough of Bexley.
Our key aim is to raise the profile of Sidcup as a safe, clean, attractive and well-regarded destination for businesses, residents and visitors alike.
Further details of our aims are held within the Key Aims & Objectives page.